Honda looks to new chief to emerge from crisis-filled era

Managing officer Hachigo takes over at auto giant

Honda Motor Co's chief executive officer will step aside later this year as Japan's third-largest carmaker reels from one of the biggest setbacks over quality in its history.

In a surprise announcement on Monday in Tokyo, 61-year-old Takanobu Ito said he will hand over the reins to Managing Officer Takahiro Hachigo, 55, after the annual shareholders' meeting in late June. Ito, the motorcycle-racing engineer who's led Honda since 2009, said he handpicked Hachigo for his experiences running Honda's various overseas businesses.